ADT 4.39% $1.19 adriatic metals plc

A brief extract from Hartley's report yesterday;"Much more to...

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    A brief extract from Hartley's report yesterday;

    "Much more to come, maintain Speculative Buy"
    Although drilling has been ongoing for the best part of 18 months, it is still earlydays for ADT in the sense that a maiden resource for Rupice is still be released.
    We have increased our assumed mine inventory and now model 1.5Mtpa atVareš, and note a large amount of untested upside at other prospects includingJurasevac-Brestic, Borovica, Orti and Seliste.
    At present, we see opportunityfor a 7-year mine life and look forward to ongoing announcements as theCompany paints a picture of what could eventuate for the big Bosnian project.
    Metallurgical results and an updated Veovaca resource could be released inJune, as well as ongoing drill intercepts.
    A maiden Rupice resource is expectedshortly afterwards, perhaps in July.
    We maintain our Speculative Buy recommendation with an updated pricetarget of $1.43/s (up from $1.20/s).

    NB: The bolding above is mine.

    So, perhaps not long to wait, June is tomorrow and July will be flying into our lives in a blink of the eye!!



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